US Bancorp DE reduced its stake in Beacon Roofing Supply, Inc. (NASDAQ:BECN – Get Rating) by 21.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,430 shares of the company’s stock after selling 2,046 shares during the quarter. US Bancorp DE’s holdings in Beacon Roofing Supply were worth $406,000 at the end of the most recent reporting period.
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Other hedge funds have also recently bought and sold shares of the company. MQS Management LLC acquired a new stake in Beacon Roofing Supply during the 2nd quarter worth approximately $495,000. Point72 Hong Kong Ltd bought a new stake in shares of Beacon Roofing Supply in the second quarter valued at about $259,000. Frontier Capital Management Co. LLC grew its stake in shares of Beacon Roofing Supply by 19.9% in the second quarter. Frontier Capital Management Co. LLC now owns 1,689,713 shares of the company’s stock valued at $86,784,000 after acquiring an additional 280,972 shares in the last quarter. Alpha Paradigm Partners LLC increased its position in Beacon Roofing Supply by 6.8% during the second quarter. Alpha Paradigm Partners LLC now owns 13,704 shares of the company’s stock worth $704,000 after acquiring an additional 874 shares during the period. Finally, Alpha DNA Investment Management LLC acquired a new stake in Beacon Roofing Supply in the 2nd quarter worth about $980,000.
Insider Buying and Selling at Beacon Roofing Supply
In other Beacon Roofing Supply news, major shareholder Cd&R Investment Associates Ix, purchased 105,320 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were bought at an average price of $56.97 per share, for a total transaction of $6,000,080.40. Following the completion of the acquisition, the insider now owns 14,964,899 shares in the company, valued at $852,550,296.03. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.95% of the company’s stock.
Beacon Roofing Supply Trading Up 2.4%
Shares of BECN stock opened at $54.68 on Tuesday. Beacon Roofing Supply, Inc. has a twelve month low of $45.71 and a twelve month high of $65.30. The stock’s fifty day simple moving average is $55.74 and its 200 day simple moving average is $56.30. The company has a quick ratio of 1.10, a current ratio of 1.92 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $3.56 billion, a P/E ratio of 10.05 and a beta of 1.60.
Beacon Roofing Supply (NASDAQ:BECN – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.15. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Beacon Roofing Supply had a return on equity of 31.40% and a net margin of 5.52%. As a group, sell-side analysts predict that Beacon Roofing Supply, Inc. will post 7.05 EPS for the current fiscal year.
Analyst Rating Changes
BECN has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Beacon Roofing Supply from $79.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, January 10th. Stifel Nicolaus boosted their price objective on shares of Beacon Roofing Supply from $80.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, December 19th. StockNews.com initiated coverage on Beacon Roofing Supply in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Robert W. Baird cut Beacon Roofing Supply from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $77.00 to $65.00 in a report on Friday, October 14th. Finally, Royal Bank of Canada reduced their price objective on Beacon Roofing Supply from $59.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Monday, November 7th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $65.63.
About Beacon Roofing Supply
Beacon Roofing Supply, Inc, together with its subsidiaries, distributes residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers. It offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.
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